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,~s~ MORTGAGE , .
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. ~et~.e a- ~~oi~~-Y ~ewe ~l~/i f Wi7r' ~
the mortgagor~ in consideration of Lhe principal sum specified in the promissory ~ note hereafter described. re-
ccived from OU'TDOOR RESORTS OF AMEftICA, INC.~ a corporation organized and existing under the Lawa
of the State of Tennessee, the Mortgagor, hereby on this.~~~ day of F~IlI~Mi h~ , 19~.
mortguges to the Mortgagee the real property in St. Lucie County, Florida, described as:
_t~
~ Lo~ No ~ in that certain condominium known as OUTDOOR R~ ~4g~~
potumcniary S:-.TFs RESORTS O AMERICA AT NE'lTLES ISLAND. as shown by plat `~Q~
o~,~y
recorded in the Office of the Circuit CoUrt in and for St. Lucie County. QE ~ ~{c
~,g;~a~ noce Florida, in Pla't Book 16~ page 1':lA through 1J. G~g~,~ ~cts +~A•
anc~?tca t~ ~ ~ A3
~ THIS IS A PURCHASE MONEY MOftTGAGE ~~ss ~~pe~~
~R Q°~s~~c`~
As security for the payment of the promissory note of which the following is a co~~~Nt ~`~~\~W~~`~ l`
~C.
lnstollment Note and Disclosure Statement~~`
~ 8774.40 St. I~nefe Caontv Fiorida
,
- _~c6rc~~yy a~ 19~
For Value Received. I, we or either of us promise to pay to the order of OUTDOOR RESOATS OF
AyiERICA, INC., P. O. Box 1116, densen Beach, Flor ida, 33457, or any other place as the holder e may
$i ht s'hansand Sevan 8nndred Sevent ~r & 4~~~
designate in writing. the sum of_ 9 3T ( 8774_~A Do]tars. .
this sum being the Total of Payments referred to in the Disclosure Statement b~low, which includes a FINANCE
CNARGE on the amount financed~ payable in 60 equal consecutive monthly installments of
R 1~46:$3 each, and the first installment to become payable on the_..~~'
day of-A/~~- r~ ,
19.~.~, and one such installment to become due and payable on th~ day of each succeeding month
until the whole of said indebtedness (Total of Payments) is paid. In the event of prepayment in full by cash
hefore the fina2 installment date, the unearned portion of the FINANCE CHABGE shall be rebated under
the ftule of ?8's.
In the event of default in the due and punctual payment of any installment on this Nota for a period of ~
thirty (30) days, or if any statement, representation or warranty in any applic,ation for the credit evidenced
by this Note is found to be untrue in any material respect, or in the event THE UNDERSIGNED. WITHOUT
THE PI~IOB WRITTEN CONSENT OF THE HOLDER HEftEOF~ SHALL SELL. ENCUMBER (EXCTPT
~ FOft ANY MORTGAGE WHICH 1S SECURTTY FOR THIS NOTE) OB OTHERWISE DISPOSE OF OR EN-
! CUMBEft OR COMMIT ANY BREACH OF THE MORTGAGE OR PEBMIT Oft SUFFER ANY LIEN TO
~ EXIST ON THE REAL PROPERTY PURCHASED BY THE UNDERSIGNED AND FINANCED THROUGIi
~ THE CREDIT EVIDENCED BY THIS NOTE or in the event of the incompetency. insolvency (howscever
~ e~~idenced) or bankruptcy of anyone or more of the undersigned. then the entire remsining indebtednt~s then
due shall be~ome immediately due and payabte at the option of the holder hereof without demand, presentment
j or notice of any kind. Anq failure of holder to exercise said option shall not constitute a:vaiver of the right
; to exercise the same at any other time.
f Time is of the essence of this Note. In the event any instatlment is not paid when due or within ten
days thereafter, the holder may collect, and the undersigned agrees to pay a late charge on such installment in
an amount equal to 5~ of such installment or $5, whichever is less~ and in the event this Note ia collected by
law or throngh an attorney at law or nnder advice thereof, the undersigned agrees to pay all costs of collection,
' including reasonable attorney's fees and court costs to the extent permitted by Florida law.
i
The undersigned and all endorsers or other parties to this note jointly and severally transfer, convey and
~ assigrn to the Hotder a sufficient amount of such homestead or exemption as may be allowed, including such ~
' homestead or exemption as may be seL apart in bankruptcy, to pay this note in full, with all costs of collection, ;
` and do hereby direct any trustee in bankruptcy having p~,session of such homestead or exemption to deliver to ~
! the Holder a sufiF'icient amount of property or money set apart as exempt to pay the indet~tedness evidenced
; hereLy, or any renrwal thereof. and do hereby, jointly and severally, appoint the Holder the attorney in fact for
; each of them, to claim any and all homestead exemptions allo~ ed by law. ~
~
~ A first mortgage for the security of the aforesaid indebtedness is retained by OLTTDOOB RESORTS OF j
; AMEBICA~ INC., on Lot No. ~~n that certain Condominium known aa OUTDOOB RESORTS AT NE'I'TLES }
f ISLAND~ and on any imprnvements, fixtures or after acquired property added thereon, as shown by plat re-
! corded in the Ot~ice of the Circuit Court in and for St. Lucie Cour~ty, Florida~ in Plat Book 16, page 1:1A ~
~
! through 1J. U R z~,4 flyCE i~J~. ~
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